AI and APIs: Essential Tools for Zurich Insurance Group’s Digital Leap
Early adopters of generative artificial intelligence (Gen AI) tools are working hard to employ the technology, which can help insurers innovate, enhance customer ...
Content from L.S. Howard
Q1 Global Insured Natural Disaster Losses Driven by Severe Convective Storms: Aon
Global natural catastrophes cost insurers $17 billion during the first quarter of 2024, with economic losses rising above $45 billion, according to Aon's Q1 Global Catastrophe Recap – April 2024. ...
Global Insured Natural Disaster Claims Again Dominated by Severe U.S. Storms: Gallagher
Global insured losses from natural catastrophes in the first quarter were estimated at $20 billion, with U.S. claims accounting for more than $15 billion, or 75 percent, of the first-quarter total, ...
Inflation Contributes to Rising Loss Costs for U.S. Commercial P/C Insurers: Fitch
Inflation is bringing rising loss costs for U.S. commercial property/casualty insurers, according to Fitch Ratings, which reviewed reports from three U.S. insurers — Cincinnati Financial Corp., HCC ...
Global Insured Nat Cat Losses Top $100B for Fourth Straight Year: Swiss Re
Global insured losses from natural catastrophes in 2023 exceeded $100 billion for the fourth consecutive year — an indication of the new norm for nat cat losses, according to Swiss Re. Other ...
Deal Troubles: James River Lawsuit Says Fleming Failed to Close on JRG Re (Updated)
James River Group Holdings Ltd. announced it has filed a lawsuit against Fleming Intermediate Holdings for its failure to complete the $277 million acquisition of its casualty reinsurance subsidiary, ...
Banner Year for Lloyd’s in 2023…But It’s Just One Year
Lloyd's strong 2023 results reaffirm the primacy of underwriting, "but it's one year and therefore not a reason for complacency," said Patrick Tiernan, chief of markets, in a market message to ...
P&I Clubs Raise Renewal Prices to Keep Up With Claims Inflation: AM Best
Protection and Indemnity (P&I) clubs sought further price improvements at the February 2024 renewals in order to keep up with claims inflation, despite a relatively benign year for P&I claims ...
Casualty Reinsurance Renewals See Modest Price Hikes Despite Social Inflation: AM Best
Reinsurers in general maintained adequate capacity for casualty programs, despite concerns about social inflation and some recent reserve strengthening actions, according to a report from AM Best. ...